Lets face it, no matter what we are shopping for these days, we are confronted by a lot of choices, whether it’s laundry detergent, plasma TVs or cars. If you are like me, when you start shopping for a big ticket item, you do some research before hand. Unfortunately, that doesn’t always make the choice easy. There is a lot of accurate and inaccurate information floating around on the Internet about Ft. Lauderdale Mortgages.

Information is power. Lenders have more information than borrowers, and this gives them a tactical advantage. For example in Ft. Lauderdale mortgage rates fluctuate on a daily basis sometimes as many as 10 times in the day. Will you as the borrower know when the rate changes? Not unless you know how to read candlestick charts and can track live mortgage bond trading all through out the day. Mortgage Bonds are sold on the bond market all day. Because the lenders can monitor the fluctuation in mortgage bond rates they can change the interest rate they charge you to match the market.

For example, you walk into a bank at 9am and make application for a new loan and get quoted a 6% rate. Then another customer walks into the bank and makes application at 10:30am and this person gets quoted a 5.5% rate. Both people are getting the same mortgage, have exactly the same credit scores, and have the same exact ability to pay back the loan. Think it cant happen? It happens more often than you want to know. Everyone that I ever speak with wants the best rate, what they fail to realize is that you can never get the best rate because it is a moving target.

Ft. Lauderdale mortgage lenders and banks know this, so you get quoted a price at the time you apply and if the rates get better your are not made aware. And if rates get worst, you will not get the rate that you were quoted and if they offer it to you, you will have to pay to get the rate. Bottom line guys, you have two options lock the rate at the time of application if you are happy with what you are being quoted and if you are really trying to get the best deal you need to work with a mortgage professional that tracks mortgage bond rates and gives you the heads up when rates are getting better or worse.

Thats all folks….

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Tags: fort lauderdale loan, ft lauderdale mortgage

This entry was posted on Wednesday, August 26th, 2009 at 2:11 PM and is filed under Fort Lauderdale Loan FHA, Fort Lauderdale Mortgage. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.